(TheNewswire)
Montreal, Quebec / TheNewswire / November 2, 2017 - St-Georges Platinum & Base Metals Ltd. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) is pleased to inform its shareholders and stakeholders that the Company has enrolled the services of a third party escrow service company, which will allow its subsidiary to secure a portion of its future financing in Bitcoins and other cryptocurrencies.
That subsidiary, Kings of the North Corp. (KOTN), will be seeking to raise up to $5 million in financing, the timeline and the nature of which will be communicated at a later date. At this point, the company has received no firm offer and there is no guarantee such an offer would meet its expectations.
"As St-Georges intend to bring new technologies to the mining industry, the Company would also like to be a pioneer in the use of financial innovations, such as bitcoins and cryptocurrencies" commented Mark Billings, president of KOTN.
St-Georges also received interest from some of its main suppliers to be paid in Bitcoins. One such supplier, North Atlantic Mining Associates Ltd (NAMA), which is in charge of all the work of St-Georges' Icelandic subsidiary, Iceland Resources EHF, has agreed to receive payments in Bitcoins for the coming drilling campaign. The Honorable Lord Timothy Razzall, NAMA Chairman commented: "NAMA is pleased to be part of this exciting development in Iceland. The project fits nicely with NAMA's strategy of developing its construction and drilling business".
ON BEHALF OF THE BOARD OF DIRECTORS
"Mark Billings
MARK BILLINGS, CHAIRMAN OF THE BOARD & PRESIDENT OF KINGS OF THE NORTH.
About St-Georges
St-Georges is developing new technologies to solve the biggest environmental problems in the mining industry. If these new technologies are successful, they should improve the financial bottom line of current mining producers. The potential success of these technologies would also involve upgrading certain current known metal resources to economic status while addressing the environmental and social acceptability issues.
The Company controls directly or indirectly all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec's North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi area. Headquartered in Montreal, St-Georges' stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1. For additional information, please visit our website at www.stgeorgesplatinum.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
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